Economy
Sarkozy Opposes IMF Loan to Greece, Widening Rift With Germany Over Rescue President Nicolas Sarkozy opposes
Germany’s push for an International Monetary Fund loan to
Greece, pitting the euro area’s biggest members against one
another over a rescue plan.
India's Surprise Rate Rise Is `Sign of Things to Come' in Inflation Fight India’s central bank will probably
raise interest rates again next month as the first increase in
two years is only the initial step in the battle against
inflation, BNP Paribas SA and Standard Chartered Plc said.
Bank of England's Sentance Says Global Recovery Poses a Risk of Inflation Bank of England policy maker Andrew
Sentance said the recovery in the global economy, particularly
in Asia, poses a risk of faster inflation.
Roach Says `Take Out the Baseball Bat' on Krugman Over His Stance on Yuan Morgan Stanley Asia Chairman
Stephen Roach said that Paul Krugman’s call to push China to
allow a stronger yuan is “very bad” advice and that increased
Chinese spending is a better way of reducing trade imbalances.
Jim Rogers Says He's Shunning `Pretty Bad' Sterling on U.K. Trade Deficit Investor Jim Rogers, chairman of
Singapore-based Rogers Holdings who co-founded the Quantum Fund
with George Soros, said he is shunning sterling because of the
U.K.’s trade deficit.
Yuan Poised to Become Reserve Currency, Goldman Economist O'Neill Says China’s yuan is destined to become
a global reserve currency rivaling the dollar and the euro, as
the nation’s economic power increases the currency’s allure,
said Jim O’Neill, chief economist at Goldman Sachs Group Inc.
Citigroup Names Kept Secret by Treasury Out of Concerns About Harassment The U.S. Treasury Department
refused to disclose names of Citigroup Inc. executives who
haggled over bailout terms in late 2008 after the bank said they
might be harassed like the American International Group Inc.
workers pilloried for taking big bonuses.
IMF's Strauss-Kahn Says Europe Needs to Do More on Managing Banking Crises International Monetary Fund
Managing Director Dominique Strauss-Kahn said European Union
policy makers are not doing enough to introduce measures to
manage and resolve future financial crises.
Pound May Reach Month High Versus Yen on Breakthrough: Technical Analysis The pound may rise to a one-month
high against the yen after the U.K. currency broke through its
20-day moving average, according to Gaitame.com Research
Institute Ltd., citing trading patterns.
Federal Reserve Ends Bank Exemption Aimed at Boosting Mortgage Liquidity The Federal Reserve Board removed
an exemption it had given to six banks at the start of the
crisis in 2007 aimed at boosting liquidity in financing markets
for securities backed by mortgage- and asset-backed securities.
Fed Must Release Bailout Documents Identifying Firms on Brink, Court Rules The Federal Reserve Board must
disclose documents identifying financial firms that might have
collapsed without the largest U.S. government bailout ever, a
federal appeals court said.
Greenspan Says Regulators `Failed' in Worst Crisis Since Great Depression Former Federal Reserve Chairman
Alan Greenspan said the central bank and other U.S. regulators
“failed” during the financial crisis because they became too
complacent about risks.
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